SBI Life Insurance’s Third Quarter Profits Drop 16% YoY

By Kosaku Narioka

 

The third quarter profit of SBI Life Insurance Co. it fell 16% from a year earlier, missing analysts’ expectations.

Profit for the quarter ended December 31 fell to 3.04 billion rupees ($37.5 million) from INR3.64 billion a year earlier, the Indian insurer said on Saturday. It missed the estimate of INR3.72 billion obtained from a poll of analysts by FactSet.

Third-quarter net income increased 6.4% from a year earlier to INR191.71 billion, while investment income more than tripled to INR74.43 billion from the INR24.24 billion.

 

Write to Kosaku Narioka at kosaku.narioka@wsj.com

 

(Conclusion) Dow Jones Newswires

January 22, 2023 10:57 PM ET (03:57 GMT)

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